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romney briefly unveils his version of tax reform ahead of tonight's presidential debate. but will it work to close the gap in the polls? we'll break it all down right here on the "closing bell." when you take a closer look... the best schools in the world... see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... they can inspire our students. let's solve this. >>> welcome back. apple helping to push the nasdaq higher for a second straight day. we said this yesterday, but it's worth repeating. apple accounts for just under 19% of the nasdaq 100. let's get to bertha coombs. >> it really is the big apple. yesterday we saw a technical reversal and a technical levels. apple shares fell below their 50-day moving average and zoomed back up. if you look at that chart, they are extending gains here today. also, apple changing the landscape, perhaps. reports say it's set to put out a mini
'm belill griffeth here at the big board. some say mitt romney may have reset his presidency bid with the debate tonight. stocks are higher. he's generally viewed friendlier to business in wall street. we're also seeing specific groups move in sync with romney's position. coal stocks, for example, getting a lift after he addressed support for them last night. hospital stocks are down on concerns heck make big changes to elements of obamacare that could help hospitals. we should point out energy is very strong today. that, of course, has been one of the leaders for stocks this year. they are powering the market higher as well today with the dow just off the highs, up 86 points. the nasdaq's up 12 points right now at 3148. the s&p is up 10-plus points right now at 1461. maria. >> all right, bill. the minutes from the federal reserve september policy meeting today out shedding little new light on the fed's future plans, but of course tomorrow's september jobs report will off more clues about the health of the economy. we're going to get some thoughts about what to expect out of the
towered over them? one man has the guts to speak his name. >> big bird. >> mitt romney knows it's not wall street you have to worry about. it's "sesame street." >> now wall street strikes back with its most powerful weapon, money. >>> plus, street smarts. wall street about to get a look at a whole new set of regulations that could impact your bottom line. we'll give you an exclusive sneak peek. >>> and chaos in the ring. the bulls may be running wild at nyse, so how come market maichbs are still wondering why? >>> also, unwelcome visitor. german chancellor angela merkel gets a less than warm welcome in greece. is it time to fire her travel agent? that and more on the "closing bell." >>> welcome back. one of the features in today's trading, oil prices striking again, this time on renewed tensions in the middle east and political maneuvering in israel. sharon is here with details. >> it was just about an hour ago that israeli prime minister benjamin netanyahu said he wanted to hold elections as fast as possible. traders had been anticipating this announcement pretty much all day. that's one
been about qe-3. the concern we've had in the last few weeks other than earnings has been a romney presidency, means bernanke gets replaced. that's what's driving markets. unfortunately, the answer for investors is going to have to be the election and who replaces bernanke over the next six months or so. once you get past that, i think you can get back into ma wha the policy differences would be. for now, i would stay neutral to long stocks because i'm not 100% sure that romney is going to win, but if i thought he was going to win, i think that would be a short-term negative only because it changes the equation with with the fed and not necessarily with policy. >> so short term negative for stocks? >> no, short-term -- >> because there's a real debate there. the equity guys say romney would be a short-term positive for equities. >> if romney's elected and bernanke leaves, that changes the equation. that's, i think, a concern that's been in the market for the last week or so. i understand what they're saying about the short-term positive. but i think this market's about monetary sti
chairman if mitt romney wins the general election. would glenn hubbard cut back on fed stimulus? i'll ask him. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> welcome back. microsoft has not had the best track record when it comes to music, that's for sure. the company is now doubling down on the biggest music venture yet. julia with the story. >> reporter: we remember the zune disaster but now microsoft is launching four different music services under the umbrella of xbox music, tying them to its successful and popular video game cons
go from here. deb is calling for 1500 still on the s&p by the end of the year. >> jim says if romney wins in november, it could actually tank the ek with wequity markets. so what does the rest of the panel think? jim, let me start with you. i think you run contrary to consensus. a lot of folks on wall street think romney might be good. why do you disagree? >> because i think that this market rally since june has been about monetary stimulus and little else. and if romney becomes the president, the next fed chairman after bernanke's term expires in january '14 will be decidely more hawkish than what we have now. if bernanke does not get reappointed, we'll get another dove. >> what do you think about that, todd? your view is as long as the fed's in that market, so are you. >> that's right. i have to say with a romney victory, i think it's great on both sides of the table. jim is right. when bernanke's term comes due in january 2014, chances are he's not going to be asked back. however, with lower taxes, you'll have people going out to spend money. that helps earnings. that helps the fu
since governor romney looks like he's doing better than people thought. what's your thought short term in the next month for the election and going into the end of the year? and i'm talking about the stock mark. >> so in terms of the elections, yes, governor romney is doing better because he had a better outcome in the debate. i think most people still recognize that he has a lot to do. remember, romney has to do two things. one, he has to convince that president obama has not delivered. second, he has to convince the american people he can deliver. so he has to do it both things. there's still some heavy sledding for him on both fronts. in terms of the market, i think that over the next few weeks and months we're basically going to be driven not only by the political process but whether we get data that confirms the handoff from central bank action to fundamentals will happen. otherwise, this wedge that the central bank have created between valuations of fundamentals cannot be sustained forever. fundamentals have got to start coming up towards valuations, otherwise valuations will com
to go deeper into it unfortunately. even if romney wins, we'll continue to repeat the same mistakes. obama is repeating the mistakes much bush and the fed is still there, ben bernanke has been repeating the mistakes of gre greenspan. jo think we have change until we have a monetary crisis. that is looming on the horizon sometime soon. >> folks, thank you for joining us. we'll see what happens here as we head into the final hour of trade. >> bob insana was driving the market? >> the fact that apple isn't having the volatility that people thought. we were lower, 1.5% to the downside but apple is essentially flat on the day on huge volume. north of 30 million shares, that's what driving things today. there's a lot of talk about the impact of hurricane sandy but not a lot on the stock market. there's been play on roofing and water proofing company up a little bit here. rpm and wr grace do a lot of water proofing but i don't see heavy volume. insurance companies, understandably, some of the ones with exposures, little weak. travelers and chubb, not big volume in them. whitewave foods thi
of the year. the market wants romney to win. the market's going to rally if he wins. the market's going to sell off if obama wins. from here until two weeks from today, i think the market's going to continue under pressure. the question s do we continue with that pressure into year end or do we reverse it on an emotional high from a romney victory? 2013 is going to be a different story, but the last two months of the year will be purely on election emotion. >> and let me bring up another point. there was a story in "the new york times" this morning that ben bernanke is telling people privately he doesn't want a third term as fed chairman at this point. how much of that could be part of the selloff? >> i wouldn't link it to a rumor. it's too broad based and seems to be too much tied to the earnings announcements. having said that, while i think an election is important, i'm not sure which candidate is actually going to be good for the market. the reason is, to the extent we see a significant pullback on the spending, even by the government, i'm not sure that's going to be particularly po
. intel, ibm, google, mr. shooftys well. it's certainly one of the romney/ry reasons why the dow is underperforming today. what do it these companies have in common? it seems to be a common theme we're hearing this earnings season. it is global growth has slowed down and is hitting a lot of these multinational companies. as rick santelli was intimating a moment ago, throw in a stronger dollar. that's another thing we've been hearing these companies comment about as well. we're going to have to see what other big tech names disappoint. >> david, i was going to ask you, rick mentioned a moment ago the fiscal cliff that is looming, the possibility of higher taxes. mr. romney in the debate earlier this week raised the possibility of no capital gains tax and no tax on dividends if you earn less than, i believe it was $250,000 or $200,000. if he wins, is that kind of idea going to give a big lift to stocks and specifically to dividend paying stocks? >> marginally. it will still come down to individual company fundamentals, individual company metrics. however, on a net, it's going to be
? if governor romney gets elected, he says he's going to make changes and repeal aspects of the law. how do you see this playing out? >> he's not going to be able to repeal it because the republicans have voted many, many times in the house and haven't voted to repeal any aspect of the reform bill. it's popular with the public. it's the most popular thing we've done. what mr. romney would do if he got elected, which i do not expect, but if he were to be elected, he would appoint people who wouldn't operate it, who wouldn't use the rules. we'd go back to where we were before. we didn't have enough regulations, but we had some. we had regulators who wouldn't use. that's what would happen. as to the implementation, first of all, i'm happy with it. these are complicated things. look, one of the biggest problems we have, the biggest change i would have made if i had a magic wand, i would emerge the commodity exchange commission. it shouldn't overlap. one from the agriculture community, one from the financial. i'm very glad we were able to work it out. there are ten commissioners. you got to get six
know you're getting ready for the big debate tomorrow night between the president and mitt romney. i want to ask you about politics and investing. first, what do you think about this market? what are you hearing from clients? you think we're going to continue to see chasing of high beta stocks or has this market gotten tired? >> our clients are scared. what we're hearing first and fare mo foremost is a lot of uncertainty. is europe going to melt down? are we going to have a fiscal clif cliff in the u.s.? is israel going to bomb snooirn on top of that, they're hearing the dysfunctional politics from the u.s. election. they're hearing president obama does not have the answer. they hear from the other side that neither does mitt romney. they're scared. so many of our clients have actually been on the sidelines. this has been a relatively low volume rally. i think it still has legs. i think multiples are reasonable and there's still room to go. >> that's what we have pondered here lately, dick. is this sort of stealth rally, as i called it before -- here we sit near 5 1/2 rear hiyear hig
mitt romney an edge during the election? after all, he did reach across the aisle to democrats as governor on massachusetts. >>> plus, think the banking industry it healthy? think again. there's a new report that finds a shocking percentage of banks would fail stress tests today. those details are coming up. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and
stocks and housing starts are surging faster than mitt romney. let's look at this chart. i'll tell you if that run is going to continue. this is the benchmark philadelphia stock exchange housing sector index. we've drawn this line to show you a long-term view. we captured the high and low. if you sold this index on that break below the 200 week, you saved yourself 57%. you get back in here earlier this year, we're now up 63% from that buy signal. investors are wondering where do we go from here? boom. >> you think it's higher? >> well, i don't. in the short-term, we're into resistance. you have this 50% retracement of the entire decline. you see the overhead resistance from the trends line. you want to pump the brakes on the overall housing sector index. >> what about kb? >> let's look at kbh, one of the components of that index. there's no free lunch on wall street, which means high risk, high reward when you go for the individual stock. bo boom. sell it, buy it. we've only gone up 37% from that 200 week. we still have almost 175% to go to get you back to that same level that we're al
ahead of next week's all-important debate between president obama and mitt romney. back to you guys. >> it's going to be fodder for our next conversation, i'm thinking. >> absolutely. right now it's not yet moving the markets if it's going to do that at all. >> michael, we were talking earlier that there are signals you see in this market which suggest a correction is coming. tell us what they are. is it the pattern we've seen this week? are some of the fundamentals behind it? in other words, that fight coming over the fiscal cliff related to the news that hampton was just give us. >> i think forget about looking at where the absolute price levels are for the s&p, the dow jones, et cetera. you have to look at what's happening within the market. after qe-3, something curious started occurring. the deflation trade started coming back. bond yields started dropping. utilities, health care, consumer staples, the bear trade, those are outperforming. small caps, which are very much domestically oriented, are weakening very, very much here. there's no real beta sentiment that's comfortable
ryan, mitt romney's running mate, has called the payroll tax cut sugar high economics. that 2% at a roll tax cut on wages is used to fund social security. aarp arguably the most powerful lobby for seniors says after two years a further extension sets a bad precedent in undermining funding for social security. it will be over the fate of the bush tax cuts especially for rich americans versus extending middle class tax cuts. so can we say negotiations? >> can we is the question. thanks, hampton. how will this battle play out? andrew fieldhouse is with economic policy institute. he says allowing social security tax cut to expire puts too much drag on the economy right now. alex is an economist and research fellow at the american enterprise institute who thinks the tax cut was and still is a bad idea. andrew, why should the payroll tax cut be extended? >> it's premature to withdraw any fiscal stimulus at this point. both sides of the aisle are concerned now that it will push the economy back into a recession. it's important to understand that expiring ad hoc fiscal stimulus is the
Search Results 0 to 15 of about 16